The private equity firm Genstar Capital, which owns Pretium, purchased the manufacturer from Castle Harlan (a private equity firm out of New York) less than one year ago. The latest firm is of course looking to further grown the company and increase revenue to its benefit.
In announcing the purchase of Pretium, Genstar believes that “Intertech represents a highly strategic acquisition for Pretium, which we are excited to be supporting,” according to David Golde, a principal at the firm.
“We continue to have a strong interest in additional acquisitions that help Pretium better serve its existing customers and gain new customers,” Golde noted.
Based in Chesterfield, Missouri, Pretium manufactures plastic containers and closures for over 700 companies at its 11 sites across the US.
“The acquisition of Intertech gives Pretium our first location in North Carolina and a great team that will enable us to leverage that location to better serve customers in the region. We now have a stronger platform to achieve meaningful growth with existing customer relationships and new customer opportunities,” said George A. Abd, president and CEO of Pretium, in a news release.
Pretium bought New Jersey-based TriDelta Plastics late last year. That company’s knowhow and market reach primarily served the food industry. And, the acquisition itself illustrates Pretium’s plan for strategic growth. “The acquisition of Intertech is Pretium’s second strategic acquisition in the past 3 months and is the next step in our strategy to build Pretium both organically and through selective acquisitions,” Abd said.
He added, “we remain pleased with the strong pipeline of potential transactions of independent manufacturers from which we continue to identify new strategic growth opportunities.”
Bottles and such
Pretium manufactures containers from PET, polyethylene, polypropylene and other resins for several industries, including personal care. The company’s packages comprise bottles for shampoos, conditioners, and hair coloring as well as lotions, creams, soaps and some oral care products.
Like most manufactures, the company offers stock packages and custom designs (complete with concept consulting, labelling and decorating, through to launch). The Intertech acquisition appears to redouble these capabilities.